A Risk-Oriented Assessment of the Investment Attractiveness of Industrial Parks

The article is dedicated to developing and substantiating a methodological approach for risk-oriented assessment of the investment attractiveness of industrial parks, based on identifying key risk groups, quantitatively assessing them, and integrating them into a comprehensive investment attractiveness index. Factors influencing the formation of the investment attractiveness of industrial parks are examined. The functions of investment attractiveness of industrial parks are analyzed. A structural-functional model for shaping the investment attractiveness of industrial parks within the context of regional industrial policy is proposed. The classification of risks related to the operation of industrial parks is systematized, and the impact of each risk group – institutional-regulatory, financial, infrastructural, market, operational-managerial, and security-logistical – is determined. A methodological approach for risk-oriented assessment of the investment attractiveness of industrial parks is proposed, combining a basic investment potential index with an overall operational risk indicator. The methodology relies on expert evaluation of the probability and impact of six identified risk groups, with the results subsequently formalized as partial and aggregate indicators. The proposed approach was approbated using project data from industrial parks, allowing for significant differentiation of objects by the level of risk-oriented investment attractiveness and identifying the main risk groups that limit the realization of the available investment potential. The results confirm that a high level of investment potential does not guarantee corresponding investment attractiveness without considering the overall risk.